dan simon, living the collective dream in san francisco. cnn newsroom continues right now. hello, everyone, president obama is just about to land in columbus, ohio, to campaign for the jobs bill that republican leaders of congress are openly rejecting. barely 24 hours ago the president showed off his american jobs act and demanded congress pass it with, and i quote, no games, no politics, no delays. but then came the details of how the $447 billion package would be paid for. two words. tax hikes. and you could hear the opposition digging in. the biggest hike by far would be a cap on itemized deductions for high earners. the white house estimates that would raise $400 billion over four years. the bill would also close loopholes enjoyed by oil and gas companies, raising an estimated $40 billion. it would raise taxes on investment fund managers and scale back depreciation rules for corporate jets and suddenly republicans who had been promising to hear the president out had h
already for so many people. so it s unbelievable. we just don t know. we re at a point where there is a lot of concern because it is so uncertain. and people are following it, they re talking about it. and they ll be doing that for the next two hours. hope fly we ll have something by the beginning of next week. live from studio 7, want to get you up to speed for this friday, july 29th. we re will thalmost out of time. those words from president obama. the deadline for raising the country s debt limit now just four days away. and congress and the white house still gridlocked over what to do. the president says there are plenty of ways out of this mess, but the clock is ticking. what s clear now is that any solution to avoid default must be bipartisan. it must have the support of both parties that were sent here to represent the american people, not just one faction. itle have to have tsupport of both the house and senate. a lot of you understandably angry, frustrated o